Stonebridge and JLL are pleased to present for sale Market Central Lutwyche, a rare triple-supermarket anchored neighbourhood shopping centre in Brisbane’s affluent north, only 5 kilometres* from Brisbane CBD, on an expansive 21,540 sqm* mixed-use land parcel.
The key highlights of this opportunity include:
- Neighbourhood shopping centre anchored by dominant grocery chains, Coles, Woolworths and ALDI plus two mini-majors, 29* specialties, 10* kiosks and 14* office tenants across 22,106 sqm* of lettable area
- Rare offering being one of only three triple-supermarket anchored neighbourhood shopping centres in Queensland^
- Over 2.15 hectares* of prime income-producing mixed-use land, 5 km* north of Brisbane CBD and a height limit of up to 12 storeys^^
- Significant 149 metre* exposure to major arterial road, Lutwyche Road, with 50,900+ daily passing vehicles
- Convenient undercover parking for 760* vehicles providing significant permanent and temporary car parking income
- Highly affluent main trade area of over 74,000 people with median income 35.8% above the Greater Brisbane benchmark^^^
- Defensive non-discretionary income profile with 76%*the of gross rent underpinned by grocery/liquor, food retail, government and medical/allied health driving an attractive WALE of 4.5 years* (by income)
- Specialty stores trading on a sustainable basis with gross occupancy costs of 9.60%* and tenant productivity of $11,695/sqm*
- Redevelopment completed in 2019 with a $77 million (net of GST) capital investment and significant depreciation benefits available
- Estimated fully leased net income of $9.63 million p.a. as at 1-Jul-24
For Sale via Expressions of Interest, closing Wednesday 19th June 2024 at 4:00pm (AEST).
For further information or to arrange an inspection, please contact the exclusive selling agents.
* Approx.
^ PCA Data
^^ Archistar, Brisbane City Plan 2014
^^^ Location IQ
Property Code: 967